June 25, 2011

Michael Petruccelli asks; Despite all the talk, are the chances of a major overhaul slim?

Michael Petruccelli says; Support of the public is crucial, and the commission's idea didn't get such acclaim. Remember that the 1986 tax reform law imposed a $120 billion tax hike on business to fund a similarly sized tax cut fr individuals as the price to get the public's backing. It's hard to imagine business groups swallowing he same deal today. If anything, the current overhaul efforts may result in some tinkering around the tax code's edges.